1. | Economic growth is best defined as an increase in: |
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B. |
C. |
D. |
2. | Real GDP per capita: |
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B. |
C. |
D. |
3. | Real GDP per capita is found by: |
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C. |
D. |
4. | Which of the following best measures improvements in the standard of living of a nation? |
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B. |
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D. |
5. | If a nation's real GDP increases from 100 billion to 106 billion and its population jumps from 200 million to 212 million, it's real GDP per capita will: |
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B. |
C. |
D. |
6. | For a nation's real GDP per capita to rise during a year: |
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B. |
C. |
D. |
7. | Growth is advantageous to a nation because it: |
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D. |
8. | For comparing changes in potential military strength and political preeminence, the most meaningful measure of economic growth would be: |
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B. |
C. |
D. |
9. | Given the annual rate of economic growth, the "rule of 70" allows one to: |
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B. |
C. |
D. |
10. | The number of years required for real GDP to double can be found by: |
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C. |
D. |
11. | At an annual growth rate of 4 percent, real GDP will double in about: |
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B. |
C. |
D. |
12. | At an annual growth rate of 7 percent, real GDP will double in about: |
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B. |
C. |
D. |
13. | If a nation's real GDP is growing by 5 percent per year, its real GDP will double in approximately: |
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B. |
C. |
D. |
14. | If the economy's real GDP doubles in 18 years, we can: |
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C. |
D. |
15. | About _____ of US economic growth comes from improved productivity (as opposed to added inputs.) |
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D. |
16. | Between 1950 and 2002, US real GDP grew at an average annual rate of about: |
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C. |
D. |
17. | Recurring upswings and downswings in an economy's real GDP over time are called: |
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B. |
C. |
D. |